Lead Story Picture

Argentina Held In Contempt For Debt Bypass Plan

A New York federal judge on Monday held Argentina in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated, calling such plans illegal.

  • 10th Circ. Affirms Dow's $1B Price-Fixing Judgment

    The Tenth Circuit on Monday affirmed the jury verdict supporting a $1.06 billion judgment against Dow Chemical Corp. in a customer class action accusing the company of fixing prices on polyurethanes, finding that plenty of evidence supported the damages and that a Kansas federal court properly certified the class.

  • Flagstar To Pay $37.5M In Mortgage Servicing Settlement

    Flagstar Bank FSB has agreed to pay $37.5 million to settle allegations that it prevented borrowers from accessing foreclosure relief and modifying their mortgage loans, the U.S. Consumer Financial Protection Bureau said on Monday.

  • High Court Reverses Decision To Hear IndyMac Appeal

    The Supreme Court on Monday revoked its granting of cert in a dispute over whether a tolling provision should apply to certain securities suits, just days after the litigants said a settlement in the underlying class action wouldn’t impact the appeal.

  • 23 Deaths Now Linked To GM Ignition Switch Defect

    The number of deaths linked to the sprawling General Motors Co. ignition defect has now increased to 23, according to claims details released Monday by Kenneth Feinberg, the lawyer overseeing a settlement program to compensate crash victims.

  • EU To Explain Reasoning For Apple, Fiat Tax Investigations

    The European Commission is expected to soon explain why it believes certain tax rulings granted to Apple Inc., Fiat SpA and Starbucks Corp. in Ireland and Luxembourg violated European Union state aid law and warrant current EU investigations into the companies' tax dealings, according to a Monday news report.